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Exam CBAP topic 1 question 107 discussion

Actual exam question from IIBA's CBAP
Question #: 107
Topic #: 1
[All CBAP Questions]

You are the business analyst for your organization and are working with Sally, a project manager, for your organization. You and Sally are determining the cost of the labor, materials, equipment, and facilities in order to achieve the different solutions that have been proposed for an identified problem.
What is this process called?

  • A. Cost budgeting
  • B. Expert judgment
  • C. Rough order of magnitude cost estimating
  • D. Scoping the project costs
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Suggested Answer: C 🗳️

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Inzaghi78
1 month, 2 weeks ago
A. Cost budgeting The process of determining the cost of labor, materials, equipment, and facilities required to achieve different solutions proposed for an identified problem is known as cost budgeting. Cost budgeting involves estimating the costs associated with implementing the project scope, activities, and deliverables. This process helps in developing the project budget, which allocates resources to various project activities and components. Therefore, option A, cost budgeting, is the correct term for this process.
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